Necessary and sufficient conditions are given for the existence of an Order isomorphism from a given preference relation to Euclidean n-dimensional space ordered by Pareto dominance. This result provides representation for some preference relations not representable by utility functions. It also...

In this note we take a first step towards the analysis of collusion in markets with spatial competition, focusing on the case of pure location choices. We find that collusion can only be profitable if a coalition contains more than half of all players. This result holds for location games played...

On the basis of a real high stakes insurance experiment with small probabilities of losses, we demonstrate that concern is a more important driver of WTP for insurance than subjective probability estimates when there is ambiguity surrounding the estimate. Concern is still important when...